LimeWire Becomes an NFT Marketplace – Newsbit

LimeWire used to be perhaps one of the best-known peer-to-peer computer programs that allowed free (and illegal) downloads of songs, movies, TV series and computer programs (including a few viruses).

LimeWire the illegal predecessor of streaming services

LimeWire was in a number of ways the forerunner of the streaming giants we see today, including Apple Music, Spotify and Netflix, only with the difference that you never had to pay with LimeWire. However, using the program was not legal.

What they offered actually amounted to (digital) theft. That something was eventually done about this turned out to be inevitable. In 2010, a federal court decided to shut down the platform for sharing illegally obtained files. At the time, the judge ruled that copyright had been infringed on a massive scale. This coupled with 50 million monthly users has led to the platform’s shutdown.

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New LimeWire NFT Platform

Still, LimeWire’s now new owners don’t seem to be done with the brand name yet. Now that we are in 2022, the company wants to convert LimeWire to an NFT platform. Initially, the platform will reportedly focus on music, becoming a “one-stop marketplace for artists and fans alike” to co-create, buy and trade digital collectibles without the technical hurdles of today’s technology. NFT landscape.

The launch of the new NFT platform is currently scheduled for May 2022. A number of big names have been promised for the planned launch, featuring ‘big artists from the music industry’. In doing so, it is polishing up its old image of a hub for free music downloads.

With the new platform, collectors will be able to purchase and trade music-related assets, including limited editions, pre-releases, unreleased demos, exclusive live versions, as well as digital merchandise and backstage content. One of the owners said the following:

“In an increasingly difficult industry where streaming is taking over and ownership is sliding into the background, we are working to place artists and give them complete flexibility and control when it comes to their content. It is important to note that we are not relaunching LimeWire as an alternative to streaming platforms, but rather as an additional channel for artists to sell exclusive music and art directly to collectors.”

Simple platform, even for beginners

LimeWire reportedly strives to provide as simple a platform as possible, which should also work easily for novice NFT enthusiasts. For this reason, it also plans to offer their NFT offerings in US Dollars ($). In the first instance, users do not need to have a crypto wallet specifically for their payments, but can simply do this via credit cards or other regular payment cards. An announcement says the following about this:

“The marketplace itself is designed to intuitive, state-of-the-art user experience and a more natural and familiar feel for every consumer.”

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